At a Glance
The Secured Mastercard® from Capital One® is a useful tool for building credit, so long as you make the required security deposit and follow through with the responsible behavior that credit bureaus tend to look for. You can also gain access to a higher credit line after making your first 5 monthly payments on time, sans any further security deposits.
Getting your credit score off the ground isn’t a complicated endeavor when you use the Secured Mastercard® from Capital One®. After making a $49, $99 or $200 refundable deposit based on your creditworthiness, cardholders will get an initial $200 credit line that will increase in as little as 5 months so long as they make their first 5 payments on time. Other conveniences offered by the Secured Mastercard® from Capital One® include no foreign transaction fee, no balance transfer fee, and no annual fee. Individuals carefully watching their spending habits, as one should be when applying for this card, can also rely on the card’s included price protection benefits and 24/7 online account management via mobile devices or their app.
Overall, the Secured Mastercard® from Capital One® might not be the most exciting secured card, but it is a valuable tool for building credit when used correctly.
Apply for This Card if You:
- Want to quickly build your credit using a secured card
- Do not want to pay annual fees or foreign transaction fees
- Want a Capital One card accepted at millions of locations worldwide
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